Meadow Parnters buys Rocket Factory Lofts in Brooklyn for $61m

Published at: 2019-06-25 16:55 | Author: CIJ USA

Meadow Partners has closed on the disposition of a market rate rental property in Brooklyn's Williamsburg neighborhood. The property, Rocket Factory Lofts, sold for $61 million. Located at 100 S. 4th St., the former industrial building is near the Williamsburg Bridge and the East River waterfront. Totaling 73 units, the mixed-use building sold for just over $835,615 per unit. Hodges Ward Elliott arranged the sale on behalf of the seller. “With the increased uncertainty around rent stabilized properties, this is a very strong moment to sell a free market or 421a building in New York City,” said Daniel Parker Parker, Hodges Ward Elliott.